Nestle Faces Sales Decline Amid Global Price Increases

The global food giant reports a drop in sales following price hikes, with a particularly sharp decline in North America.

Nestle's total sales fell by 5.9% to 22.1 billion Swiss francs in the first quarter of 2024 compared to the previous year.
Price increases of 3.4% globally and 4.6% in Europe were implemented, impacting consumer demand.
In contrast to its rivals, Nestle's sales growth lagged, with Unilever and Danone experiencing surges.
Nestle's Purina PetCare and coffee products showed strength, while frozen food and dairy products underperformed.
The company remains optimistic about a recovery, expecting a rebound in the second quarter of 2024.